MONTHLY CHART Prior breaks of support signalled a medium term bear move underway, with a 50% pullback level providing effective support.

The current rally is presumed temporary - note resistance here from the old triangle underside, just above 0.8800.

DAILY CHART:

Following earlier support from around a s/term 76.4% level bulls have driven price through a bear channel top projection and, initially, through the 0.8532 Jul high.

This implies loss of bear momentum and invites further gains.

Nearby resistance comes from a 50% recovery level at 0.8607, and small channel top just above at 0.8630. A break through this would provide a boost for the move.

S/term dips should currently prove short-lived. Note first support could emerge around the 0.8400 area.